Am I correct in assuming that the fact that my solicitor in Pratt's Bottom is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s work?
That would more than likely be an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Pratt's Bottom conveyancing firm and ask them why they are no longer on the approved list for your lender.
Are the Pratt's Bottom conveyancing solicitors identified as being on the Leeds Building Society conveyancing panel, together with their details provided by Leeds Building Society?
Pratt's Bottom conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
Is there a list of Coventry BS panel conveyancers in Pratt's Bottom on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings viewable on the web. If you are in need of a Pratt's Bottom property lawyer on the Coventry BS please make the most of our tool.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Pratt's Bottom solicitor on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I was told two weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Pratt's Bottom is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
My colleague advised me that where I am purchasing in Pratt's Bottom I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Pratt's Bottom conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Pratt's Bottom around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Pratt's Bottom Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Pratt's Bottom Education with plans and statistics, Local Amenities and other useful data concerning Pratt's Bottom.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Pratt's Bottom. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Pratt's Bottom ?
The majority of houses in Pratt's Bottom are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Pratt's Bottom in which case you should be shopping around for a Pratt's Bottom conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.
I am the leaseholder of a ground floor flat in Pratt's Bottom. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Pratt's Bottom conveyancing firm who can help.
An example of a Lease Extension decision for a Pratt's Bottom residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The number of years remaining on the existing lease(s) was 50.57 years.